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3 Valuable Money Management Lessons From Squid Game

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November 14, 2021

3 Valuable Money Management Lessons You Can Learn From Squid Game

If you haven't heard of the new hit series Squid Game, you must be living under a rock. It's the #1 Netflix show in 91 countries. Everywhere you turn people are talking about it. This is because Squid Game is truly a fascinating tale set-in modern-day Seoul, South Korea. The show is full of greed, loss, extreme violence, and the potential to earn an absolute fortune at end. In the real world and in Squid Game, a great deal of the population is riddled with debt. The same holds true for a plethora of Americans.

That's one of the main reasons why this series hits home for so many of us. In essence, 456 cash strapped players from all walks of life are enticed into playing a series of children's survival games. If they lose, they die. However, the one winner or survivor in this case receives an ultimate prize of approximately $38 million USD. That's enough money to pay of the winner's existing debt, and pretty much set them up for life from a financial standpoint. Squid Game is certainly an imaginative premise that places a group of strangers together in a series of life of death challenges.

Yet, as the game and the show move on it becomes more twisted at every turn. It also provides you with a chance to reflect upon how each of the characters could have avoided their current financial situation. Furthermore, when you look beyond the game itself, you'll begin to realize that there are many valuable money management lessons that you can take from the Squid Game. Here are a few....

Lesson #1: It's Important to Save Money

Benjamin Franklin put it simply when he said, "a penny saved is a penny earned." Saving money is an incredibly important aspect of financial stability. However, there are great deals of people who simply do not follow this sound advice. Anyone can save money. It's a matter of discipline. Most of the characters in the Squid Game are in dire financial situations because they lack discipline and commitment. In essence, saving money takes a high degree of sacrifice. You need to ask yourself; do you really need that shiny new item or would it be better to save the money instead.

Lesson #2: Do Not Take Large Gambles

The main character of the Squid Game got into financial trouble because he gambled on horse racing. Another character gambled by making incredibly risky investments with other people's money. Both characters ended up risking their lives by playing the Squid Game because they lost at gambling more than they won. Gambling is tempting for a lot of people because of the potential to make a significant amount of money in a short period time with little effort.

However, it's called "gambling" and not "winning" for a reason. The chances are incredibly high that you will lose your money gambling. This holds true whether you're gambling on a sporting event or a risky business proposition. You're far better off staying away from gambling all together.

Lesson #3: Spend Your Money Wisely

Squid Game is full of stories about people who have great struggles with their finances simply because they made poor choices along the way. However, if you spend your money wisely you will significantly reduce the odds of getting into financial trouble. By spending wisely, we are referring to possessing both the confidence and the knowledge to make the most of the money that you do have. It simply doesn't matter if you earn a large income or a smaller income. People who spend their money wisely typically come across far more opportunities to grow their finances in a healthy manner. They're also able to save money, which can be important if it's needed on a rainy day.

In conclusion, the characters in Squid Game made poor financial decisions to say the least. Eventually, those poor financial decisions pushed them over the edge. They had no one else to turn to, which forced him or her to resort to desperate measures that most people would not choose to take. The good news is that this can be avoided if you follow the money management advice as listed above.

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About the author

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Mark Scribner

Managing Director, Boston

Mark F. Scribner is the Managing Director of oXYGen Financial, Boston Office. Mark grew up in Melrose, MA and now lives in Boston. He has an amazing wife Michelle, who supports all of his crazy endurance endeavors, including a solo attempt to swim the English Channel! Mark is the father of four children - Mark, Bella, Olivia and Emma. He loves being an assistant NFL photographer and cancer fundraiser, along with creating and running various companies.


The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor with regard to your individual situation.
Background and qualification information is available at FINRA's BrokerCheck website.

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